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About this product
- DescriptionThe increasing globalization of financial markets has resulted in a substantial increase in net private capital flows to developing countries, primarily the emerging ecomies of Asia, Eastern Europe, and Latin America. Until recently, investors have igred opportunities in Africa. African markets caught investors' attention in 1994 with Kenya's 179% U.S. dollar returns leading world equity markets, along with six of the world's top ten markets being in Africa. With low levels of correlation between African and developed world markets, the African exchanges represent ideal portfolio diversification opportunities. Moreover, rates of return for African investments are among the highest returns in the world, yet African nations have t attracted the foreign direct investment that is required to change their ecomies. Dr. Clark's research examines the nature and evolution of Africa's emerging securities markets and their role in regional ecomic development. He shows that the continent's trading systems represent many different trading arrangements without standardized rules and procedures. African countries continue to implement reforms to strengthen the development of financial markets, but without the appropriate market microstructure and custodial arrangements international investors will t provide African projects with the equity capital required for further development. The government's role in the regulation of developing equity markets, therefore, is a critical element to the success of the reform process. Clark argues that freeing the ecomies to international competition will reap significant dividends for the continent's emerging ecomies. As the markets evolve, structural impediments will reduce, leading to increased efficiencies and lower capital costs.
- Author BiographyROBERT A. CLARK is Director, Graduate Studies in Business, and Associate Professor of Finance in the College of Business, University of Tampa. Previously on the faculty of the University of Vermont School of Business Administration, Dr. Clark founded and was the first director of the university's International Business Institute. He has also given lectures at the Business and Economics University, Vienna, and was a Fulbright Scholar at the Norwegian School of Management.
- Author(s)Robert A. Clark
- Date of Publication30/10/1998
- SubjectFinance & Accounting
- Place of PublicationSanta Barbara, CA
- Country of PublicationUnited States
- ImprintQuorum Books,U.S.
- Content Noteblack & white illustrations
- Weight536 g
- Width152 mm
- Height229 mm
- Spine17 mm
- Format DetailsLaminated cover
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